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Bank guarantee

Contract between a bank as guarantor and a beneficiary in which the bank commits itself to pay a certain sum under certain, specified conditions. Thus, a demand guarantee is one in which the bank agrees to pay against the simple written demand of the beneficiary.

News On Bank guarantee
SpiceJet may soon get investor on board  

18-12-2014| Source:CNBC-TV18

in fresh bank guarantees to AAI, sources said. The airline’s total outstanding dues stand at about Rs 200 crore, the remaining Rs 80 crore odd have already been covered by bank guarantees.

SC dismisses JSPL's plea for penalty payment extension

18-12-2014| Source:CNBC-TV18

In a desperate bid, JSPL highlighted high debt levels and impact on daily operations and offered to submit either bank guarantees or monthly payments of Rs 100 crore.

Govt rescues Spicejet, may ask banks to extend loans

16-12-2014| Source:PTI

"Indian banks may be requested to give some working capital loan based on the assurances of the promoter. Banks or financial institutions to lend up to Rs 600 crore backed by a personal

SpiceJet seeks 6 weeks from AAI to find strategic investor  

05-12-2014| Source:CNBC-TV18

AAI wants to give SpiceJet only one week payment moratorium, that too subject to airline's bank guarantees.

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